Academy Trains Young Women on Sustainable Financial Independence

The Brief Academy, a digital learning hub, in collaboration with the Pulte Institute for Global Development and the Khalil Halilu (KSH) Foundation trained young women on the importance of financial independence.

The groups also launched the FEM-Money in Abuja on Thursday.

FEM-Money is a hybrid workshop assembled to assist young women entrepreneurs to create sustainable enterprises with practical financial management and social impacts.

Ms Farida Yahya, the Founder of the digital learning hub, said the aim of The Brief Academy is to develop and support female-owned startups on financial independence.

She said “our goal is to sensitise and educate more young women on the importance of financial independence and the skills required toward building a scalable business with impact in their immediate community.

“All of the workshop courses are uniquely designed to equip the budding entrepreneurs with practical steps and skills needed en route financial independence.”

Yahya added that FEM-Money workshop was set up to accommodate entrepreneurs from far and wide, with expert tutors to broaden participants’ perspectives on potential investment portfolios.

Khalil Halilu, the Founder of KSH Foundation, described  business as a game of numbers, emphasising its social impact and the need to track and record profits.

He said “creating a business with a positive social impact is as important as creating a business in itself. With the country’s population spilling over 200 million and 70 to 80 per cent living below the poverty line.

“Starting a business play the role of helping one to secure financial well-being, families and of certain members of the local community, thus lowering social decadence and increasing economic growth,” he explained.

Ms Wamide Animashaun, a resource person who spoke on financial literacy, said “the country is at a stage where small businesses can get a lot of enablers that will help women in particular to access loan.”

She urged young entrepreneurs to get interest free loans to grow their businesses, stressing the importance of being financially self reliant.

She added that “if you feel you are not earning enough from a present job, you can upskill and try to develop yourself.”

Miss Florence Godwin, a participant and founder of a culinary school, commended the organisers of the workshop, saying she had learnt a lot.

She said “my take home basically is that I should not be afraid of taking loans; before now, I have been afraid to do this, although the money I used to start my business was a loan but interest free.”

Similarly, Miss Ezewanyi Oluwatoyin, another participant and a graphic designer, also commended the organisers, adding that she had learnt the difference between savings and investment.

According to her, savings are meant for emergencies, while investment look into the line of asset.

She said “I learnt how to create a budget, the 50-30-20 rule as investment should be more and spending less.”

FEM-Money is supported by the Mandela Washington Fellowship for Young African Leaders, a programme of the U.S.

Department of State, funded by the U.S. Government, administered by International Research and Exchanges Board.

Pulte Institute for Global Development is an integral part of the Keough School of Global Affairs that works to address global poverty and inequality through policy, practice and partnership.